Diamcor in first diamonds sell from South Africa project

Diamcor Mining said it sold the first 3 579.58 ct of rough diamonds from its Krone-Endora at Venetia project, in South Africa for $510,829 or $142.71 per carat.
The initial rough sold were recovered during the ongoing testing and commissioning exercises underway, it said.
The vast majority of diamonds were from the recovery, screening, and processing of material only in the +1.0mm to -10mm size fractions of the lower-grade surface to 10 meter depths of the K1 area of the project.
Diamcor said of the 3,579.58 carats tendered, 362 individual rough diamonds with a combined weight of 659.33 carats were recorded at 1.0 carat in size or larger.
"With this important milestone achieved, our focus has already shifted to the recovery and screening of material from the higher-grade, lower areas of the deposit, and the procurement, delivery and installation of additional equipment to enhance overall recoveries and allow for the effective treatment of material in the +10 mm size fractions", said Diamcor chief executive Dean Taylor.
The company recently secured an additional $4-million in financing from its long-term strategic alliance partner, Tiffany & Co.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished